A security system can pay for itself.
Is a security system a good investment? Absolutely! A professionally monitored security system can pay for itself PLUS save you from costly repairs. Here, we discuss 4 ways a home security system can save you money. Take advantage of these tips to maximize your cost-saving opportunities!
MONEY SAVER #1: PREVENT BURGLARY
According to the FBI, victims of burglary offenses suffer an estimated $3.4 billion in property losses each year. They note the average dollar loss per burglary offense is $2,799.
Burglary is often a crime of opportunity. Most burglars are looking for a quick grab and dash, opting for properties they deem most likely to enable them to avoid being caught. This means that posting notice you have a security system at your home does deter intruders. In addition, burglars look for surveillance cameras, choosing to avoid homes with visible protection.
Therefore, installing a security system in your home is one of the best ways to prevent property theft, and consequently, prevent you from being out thousands of dollars.
MONEY SAVER #2: PREVENT/REDUCE PROPERTY DAMAGE
Adding environmental detection devices to your security system is another great way to save money. These types of devices detect changes in the environment of your home, alerting you to an emergency situation. With prompt response, damage to your property can be mitigated or even completely eliminated.
Sensors that detect smoke are one of the most common environmental detection devices. A smoke detector is a great investment for your home. Not only can these sensors save you money by limiting fire/smoke damage with early detection, they can also save lives.
However, there are big differences between smoke detectors purchased from your local hardware store and those connected to a professionally monitored security system.
- A monitored security system will signal the Monitoring Station as soon as smoke is detected, enabling them to rapidly dispatch your local fire department.
- If you use an app connected to your system like our Virtual Keypad™ app, it can alert you right away on your phone, notifying you of the alarm even when you’re not home.
- Security system smoke detectors are interconnected. That is to say they all produce audible signals when one goes into alarm. So even if you are doing laundry in the basement, you will clearly hear an alarm signal when smoke is detected in the attic, giving you early warning to evacuate your home.
A sensor that detects water is another cost-saving environmental detection device. A flood detector connects to your security system to signal an alarm when it senses water. Install these sensors wherever a potential water leak could occur – the basement, water main, water heater, etc. Flood damage can cost thousands of dollars to repair, so early detection is key to saving money.
Temperature sensors can be set to alert you when temperatures in your home drop below or rise above set thresholds. A temperature sensor gives you early warning that something is not working properly at home, allowing you to intervene before costly damage occurs. Examples of issues that can cause extreme fluctuations in your home’s temperature include: power outage, heating/cooling unit failure, thermostat malfunction, broken window, etc.
Temperature sensors are strongly recommended for the following types of security system owners:
- Those who are often away from home for extended periods of time.
- Owners of short-term rental properties and second homes.
- Those with separate heating/cooling units for each level of their home.
MONEY SAVER #3: REDUCE ENERGY BILLS
You can reduce your home’s energy bills by adding smart home control to your security system. Installing Z-Wave light bulbs, appliance outlets, and thermostats can save you over $180 every year. The Virtual Keypad™ app gives you control of your home’s energy use by connecting to all your Z-Wave devices. Most importantly, this empowers you to be more energy efficient and cost effective. The app enables you to:
- Create automated schedules for lighting and temperature control.
- Check the power status of lights and appliances.
- Remotely turn off/on lights and appliances.
- Remotely adjust your thermostat’s temperature setting.
MONEY SAVER #4: INSURANCE DISCOUNTS
Most insurance companies offer discounts to customers who have a professionally monitored security system installed in their residence. Therefore, homeowners and renters alike can see significant savings in their home/renter’s insurance premiums. Your actual cost savings depends on the type of system you have, the devices connected to it, the type of monitoring, and of course your insurance company.
We have partnered with Branch Insurance to offer substantial savings on insurance premiums for NWOSS customers. Discounts range from 9.5% to 29.5%, depending on the type of devices you have connected to your system. Customers with smoke and water detection can save the most because those devices have the potential to prevent the most damage to your home, as mentioned above.
According to Insurance.com, the average home insurance cost in Ohio is $2,107 annually. With a 29.5% discount from Branch Insurance, you could save around $620 every year!
Want to maximize your cost saving opportunities?
Contact us today to learn more about the 4 ways a home security system can save you money.